Venture Solutions joined leaders in the mortgage, real estate, regulatory, and tech markets at MBA's Technology Solutions Conference to discuss new technologies, strategies, and trends in the mortgage industry.
Areas of interest include technology innovation, customer retention, digital transformation, and industry trends.
BE BOLD WITH TECHNOLOGY
Investments in technology are vital to survival in the mortgage industry, allowing businesses to add value, expand capacity, and improve customer experience. The most impressive technology solutions offer at-a-glance analysis, in addition to in-depth tracking and key performance metrics. APIs offer more flexibility in customization to suit mortgage companies’ needs. Bold technology transforms businesses and provides standardization and diversity to survive a rapidly consolidating industry.
CUSTOMER RETENTION
Ease the cost of originations with technology that supports customer retention strategies including engagement, end-to-end automation, and combining investments in people and technology for a more holistic approach. Remember when you invest in technology, you are not only investing in code, you are investing in customers.
DIGITAL TRANSFORMATION
Digital transformation is necessary for the continued profitability of the mortgage industry, but government loans are a major hindrance to further innovations in residential mortgage digitization. To tap into the potential of data, organizations must embrace e-adoption. Based on the current state of the industry, data aggregation is not easy, but with further digital transformation, customer mortgage data can be mined and shared to reveal industry trends and inspire future innovation.
TECHNOLOGY TRENDS
Operational costs for all peer groups in the industry have nearly doubled in the last year. E-notes up to $600k made up only 5% of total notes in 2021. Therefore, e-signatures and customer documentation technology are the top trending tech needs in 2022 and saw the most growth in 2021.
Venture Solutions is committed to supporting the mortgage industry with innovative solutions and strategies. We enjoyed connecting and collaborating with leading industry experts at the conference and look forward to MBA’s next event.
